Tiny Ltd Sees 22% Adjusted EBITDA Growth, 50% Recurring Revenue Surge
Tiny Ltd posted FY2025 revenue of C$203.8M, up 5% year-over-year, driven by its Serato acquisition and digital services growth; adjusted EBITDA rose 22% to C$37.9M and recurring revenue climbed 50% to C$57.8M. The company trimmed its net debt/EBITDA to 2.4x, repurchased 113K shares and completed an 8-for-1 consolidation.
1. Financial Performance Highlights
Tiny Ltd generated C$203.8 million in revenue for FY2025, a 5% increase from FY2024, and reported an adjusted EBITDA of C$37.9 million, up 22%. Recurring revenue reached C$57.8 million, representing 28% of total sales, while net loss narrowed and free cash flow improved to C$25.3 million.
2. Serato Acquisition Impact
The May 2025 acquisition of a 66% stake in Serato drove significant growth, with Serato’s recurring revenue base contributing to the 50% surge in subscription income. Serato reached record monthly user levels, launched its first MIDI pad controller Slab in collaboration with Alpha Theta, and rolled out new Spotify and Apple Music integrations plus AI-powered features.
3. Share Repurchase Program
Under its NCIB approved in October 2025, Tiny Ltd may buy up to 1,470,716 common shares; to date it repurchased 113,488 shares at prices between C$6.67 and C$10.00 per share, reflecting management’s view that shares remain undervalued.
4. Balance Sheet Improvement and TSX Graduation
Tiny Ltd reduced its net debt to adjusted EBITDA ratio from 3.0x to 2.4x by year end, supported by stronger free cash flow. On October 1, 2025, the company completed an 8-for-1 share consolidation and graduated its listing from the TSX Venture Exchange to the Toronto Stock Exchange.